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Hedera Hashgraph partners with custody provider Onchain

Blockchain firm Hedera Hashgraph has partnered with digital asset custody provider, Onchain Custodian, to ensure the security of the project’s native token, HBAR.

“Investors are recognising the need for prudent governance of token projects,” said Pablo Peillard, co-founder of Hashing Systems. “As the largest community of Hashgraph developers, we are demonstrating our commitment to our clients and the enterprise ethos by securing our HBAR reserves with Onchain Custodian.”

HBAR holders now have the option to secure their tokens with Onchain’s custody platform named SAFE, which is insured through Lockton and fully compliant with Singapore’s regulatory regime with regards to digital payment tokens.

“With many of our holders of HBAR based in Asia, it’s important that they have safe and reliable digital asset custody in their own timezone,” said Jordan Fried, SVP of Business Development for Hedera. “We are working with Onchain because they provide the level of service and security our token holders expect.”

Onchain’s CEO, Alexandre Kech, added: “Now we are seeing more sophisticated investors citing the need to secure their digital asset investments with an independent third-party custody solution.

“This represents a maturation of the industry as crypto becomes increasingly attractive to the traditional sector.”

Backed by DHVC, Fosun and Sequoia Capital, Onchain is also used by blockchain organisations NEO, Ontology and Zilliqa to manage their foundation’s treasury.

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Oliver Knight

Londoner ‘Ollie’ graduated from Birmingham City University with a journalism degree in 2016. He combines his writing with his love of crypto and blockchain here at Coin Rivet, saying “It disrupts well-established institutions (banks) while giving an avenue to the less fortunate to achieve financial freedom.” Like all true Londoners, his pet hate is… “People standing on the left-hand side of the escalators on the Tube!”.

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